New US jobs numbers 'encouraging': Biden

[Omaha Steve]

http://www.google.com/hostednews/afp/article/ALeqM5jUSfH2-L4vOEMGwgiCf1zm7BHmTw

WASHINGTON (AFP) — The latest US jobless figures were tough but showed "encouraging signs," Vice President Joe Biden said Friday adding the administration was planning to ramp up implementation of its stimulus plans.

"While these numbers are tough, they're also much more than numbers," Biden said, noting the figures showed that communities "trying to make it through the deepest recession in a decade ... are hurt badly.

"But there's also some signs of hope today in the report, and a few signs that our actions to get this economy back on track are beginning to make some difference."

Even though the jobless rate surged to 9.4 percent in May to a 26-year high, the number of job losses slowed to a better-than-expected 345,000, the Labor Department reported.

The United States is suffering through its worst recession since the Great Depression of the 1930s, which has seen millions thrown out of work, and banks foreclose on hundreds of thousands of homes across the country.

But the number of non-farm jobs shed in May was much lower than the 520,000 expected and better than the revised figure of 504,000 in April. It was also about half the monthly decline of the past six months.

FULL story at link.

[Triana]

1. "worst recession since the Great Depression of the 1930s"

It's a DEPRESSION. The lengths they go to NOT to call it that - sheesh.

[Donnachaidh]

2. encouraging to WHO?

Guess they don't factor in the people who have used up their unemployment and become invisible. :shrug:

[mucifer]

3. If we don't return jobs to the USA how can the economy get better?

Gotta change more laws with regard to trade. I don't see that happening anytime soon.